Conway Resources Becomes the Owner of the Belleterre Mine
July 12 2010 - 5:00AM
Marketwired
Conway Resources Inc. ("Conway" or the "Company")(TSX VENTURE: CWY)
is pleased to announce that it has merged with Belleterre Mining
Resources Inc. following the purchase of all the issued and
outstanding shares of the latter on June 30. Conway has also
transferred mining concessions 315 and 395 in Guillet Township,
known and designated as the Belleterre Mine with the claims
registry of Quebec's Ministere des Ressources naturelles et de la
Faune, to become the sole owner of the mine.
In the coming weeks, the Company will compile the results of
work it has done on the property over the last two years. This work
consists of 62 km of line cutting and induced polarization
geophysical surveys, as well as more than 5,500 metres of drilling.
This compilation will enable Conway to update the results obtained
and the property's gold potential, and will be used to plan the
next phase of work.
Discovered in 1930 by McIntyre Porcupine Mines, the Belleterre
mine was in production from 1936 to 1959. During this period, the
mine produced 2.18 million tonnes of ore at an average grade of
9.95 g/t Au. Approximately 95% of the ore was mined from Vein 12.
Previous reports indicate the existance of at least 21 other veins
on the property.
The geological information is taken from the NI 43-101 technical
report for the Belleterre mine property authored by Alain-Jean
Beauregard and Daniel Gaudreault, Ing., of Geologica Groupe-Conseil
Inc. of Val-d'Or. Jean-Louis Robert, D.Sc. Geol., Vice President,
Exploration of Conway and a qualified person under National
Instrument 43-101, has reviewed the contents of this press
release.
Forward-Looking Statements
This press release contains certain forward-looking statements
that might involve uncertainty, time frames, and/or known and
unknown risks beyond the Company's control. The Company's actual
results, performance and achievements may differ materially from
the results, performance and achievements implied by such
forward-looking statements. Factors that could cause actual results
to differ from those implied by forward-looking statements include,
in particular, changes in the market gold price, the value of the
Canadian dollar or the grade of the ore mined and unanticipated
difficulties in mining activities that could have an impact on
operating revenues and costs, as well as uncertainty regarding
government regulations.
Neither TSX Venture Exchange Inc. nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange Inc.) accepts responsibility for the adequacy or
accuracy of this press release.
Contacts: Conway Resources Inc. Laurent Beaudoin President and
Chief Executive Officer 418-871-3334 conway@ressources-conway.com
Francois Kalos Director 450-993-0828 kalos@solak.ca
Conway Resources Inc. (TSXV:CWY)
Historical Stock Chart
From Oct 2024 to Nov 2024
Conway Resources Inc. (TSXV:CWY)
Historical Stock Chart
From Nov 2023 to Nov 2024